Omidyar Network India, an investment firm focussed on social impact, announced that it has fully utilized the capital pool of Rs 10.75 crore under its Rapid Response Funding Initiative for Covid-19. The initiative was launched on 24th March 2020, since then 2000 applications were received and 67 proposals have been approved. Of this, Rs. 3.25 crore was contributed by employees of Omidyar Network India.
Applications received: some highlights
More than 2000 applications received from across the country provide good insights into the types of non-profit solutions that are being set up.
· While the majority of proposals were focused on physical health (79%), some (3%) were for addressing mental health challenges too.
· Nearly half (49%) the proposals were technology-focused - primarily online and mobile-based solutions.
· The solutions focused on supporting the vulnerable sections – the lower 60% of the country’s income distribution represented by the daily wage earners, vendors, the gig-economy workers, and small businesses.
Commenting on the initiatives in response to Covid-19, Roopa Kudva, Managing Director, Omidyar Network India said, “The response of the nonprofit sector to the current crisis has truly been awe-inspiring. The way they have galvanized into action has dispelled many myths associated with the nonprofit sector. NGOs and nonprofits have responded rapidly to provide cost-effective solutions. They are adopting new technologies at a fast pace. They are collaborating with each other to create a more effective response. If they continue to be funded adequately, these organizations will continue to play an increasingly greater role in India’s response to the pandemic both in the medium and the long term.”
Profile of proposals approved under RRFI
The amount of Rs 10.75 crore has been deployed towards the following mix of themes:
● Direct relief work, grassroots awareness campaigns, on-ground programs to mobilize volunteers (47%)
● Fact-based inputs to inform the thinking of policy-makers/influencers in supporting the NHB (12%)
● Data, apps and other technological solutions (27%)
● Collaborative efforts amongst funders and solution providers (12%)
● Economic resilience of NHB workers and small businesses (2%)